Chapter 2 - Gross Income and Exclusions - easytaxexam

Therefore, the $80,000 he receives is excluded from gross income as an accelerated death benefit. p. 5-7. 7. Since Amber had taxable income in 2002, it received a tax benefit from writing off the receivable. So Amber would include $5,000 in gross income in 2004 under the tax benefit rule. ................
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